Puerto Rican schools closing

Just as the government performed several budget cuts in other areas of education, (like the University of Puerto Rico’s cuts), they recently decided to close down 184 schools. Schools going from kindergarten to fourth grade will be closed, showing that people of all ages will be affected by this approach attempting to solve the economic disaster Puerto Rico is currently in. This will evidently, not only have a great impact on young Puerto Ricans’ education, but will also result in over 2,700 teachers losing their jobs.

Stating bankruptcy in Puerto Rico

Puerto Rico declares a form of bankruptcy. The U.S. territory has about $73 billion of debt. https://t.co/Ak13hVVhbs

Even though Puerto Rico was initially not “allowed” to declare bankruptcy, due to its status of unincorporated territory, the severity of the economical situation made it so that there was a change in asserting that claim. As of last year, Congress passed a law that would allow filing for a form of bankruptcy. Overall Puerto Rico is now facing a $74 billion in bond debt and $49 billion in unfunded pension obligations. Without mentioning the money that is still owed to many creditors, which are currently filing lawsuits against Puerto Rico.

Roselló discusses current economic situation

Rosello hopes to achieve renegotiations to avoid lawsuits. The Governor of Puerto Rico also discusses how he is going to try to perform budget cuts without hurting the ones that are already facing hard times, but tells that these cuts are necessary for now.

He also explains he is taking an “aggressive” approach (by performing budget cuts and such), in order to “lay foundations” for investors to come and jobs to be created in Puerto Rico in the future. Furthermore, he argues the colonization status also contributes to what the island is facing at the moment.

Fox attributes some of Puerto Rico’s bankruptcy blame to the US

After briefly explaining the economic conundrum Puerto Rico is facing, news reporter briefly shades some light, in part of why the last colony is facing problems. “They can only buy goods or bring in goods into Puerto Rico from American made ships and crew. It is really a tight situation, they don’t get Federal funds either” the Fox News Reporter stated.

On May 1, a general march around the island of Puerto Rico was held, where people representing different groups, went to peacefully protest in the streets. The meeting point, from which the protesters would begin was in front of the Oversight Board building (Milla de Oro). After the march was efficiently performed, roughly around 1pm, some people dressed in black, with their faces covered, or wearing masks, stayed back and started displaying aggressive behavior by breaking windows of big companies, and causing small explosions, to which the police responded with tear gas, where other friendly protesters and reporters were unfortunately caught in.

About The Author

Giulia Agnoli is a graduate of Northeastern University, with a degree in Communication and a concentration in Production. She has strong communicative and team skills; she can operate in a studio, use a camera skillfully and write scripts.
Giulia has also worked in two law offices, when residing in Boston. She was born in Italy, from an Italian family, yet raised in France and US. Throughout her life she has travelled to more than 26 countries, and loves to experience and learn about different cultures. Since she moved to Puerto Rico shortly after graduating, she developed a true interest for local Puerto Rican issues.
Giulia is fluent in Italian, French, and English and conversational in Spanish. She dedicates some of her time to teach Italian and French to Puerto Rican students. She is now an Intern Social Media Correspondent at Pasquines.